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HUNGARY: MPC Members Flag Rising Inflation Expectations as Warning Sign

HUNGARY
CEEMEAEM BulletBulletEmerging Market NewsHungary

Highlights from the minutes release:

  • The Council concluded that consumer prices had risen at a rate exceeding expectations in December.
  • Several members saw the general rise in inflation expectations as a warning sign.
  • The Council concluded that as a result of incoming data, increasing global commodity prices and a pick-up in inflation expectations, risks surrounding the inflation path had shifted upward.
  • Generally, members were of the view that maintaining a restrictive monetary policy stance was still necessary, and positive real interest rates ensured the achievement of central bank targets.
  • The Monetary Council discussed one decision proposal: to leave the base rate unchanged.

See the full release here. 

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Highlights from the minutes release:

  • The Council concluded that consumer prices had risen at a rate exceeding expectations in December.
  • Several members saw the general rise in inflation expectations as a warning sign.
  • The Council concluded that as a result of incoming data, increasing global commodity prices and a pick-up in inflation expectations, risks surrounding the inflation path had shifted upward.
  • Generally, members were of the view that maintaining a restrictive monetary policy stance was still necessary, and positive real interest rates ensured the achievement of central bank targets.
  • The Monetary Council discussed one decision proposal: to leave the base rate unchanged.

See the full release here.